Cobalt 27 Capital acquired a net smelter return (NSR) royalty on future production from the Dumont nickel-cobalt project in the Abitibi region of Quebec, Canada. This project is a 50:50 joint venture between RNC Minerals and Waterton and the deal is worth $70M. The NSR royalty is 1.7%, valid for 60 years and applicable over all metals notably cobalt, nickel, palladium, and platinum. The production term is 33 years, with a potential life expectancy of 66 years at 1.18 billion tonnes of ore. Production is expected to commence in 2020; globally this is the second-largest nickel reserve and largest undeveloped cobalt reserve.
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